The simple way to refinance your auto loan
We make it easy to save. Check your rate, confirm your details and we'll take care of the rest when it comes to your new auto loan.
Flexible loan amounts
Upstart-powered car refinance loans start at $9,000³ and loan terms range from 24 to 84 months.⁴
We look beyond your credit score and use education and employment to get you the rate you deserve.⁵
No unnecessary fees
Auto refinance loans through us have no application, prepayment, or origination fees.
We've helped more than 2.1M customers⁶
Jennifer saved over $129 a month⁷
"Not only did my interest rate go down, but my car payment also went down—I wasn't expecting to go down that much!"
Refinance your car loan online in 3 easy steps
Check your rate
Check your rate in minutes – without affecting your credit score.¹
Confirm your details
Enter your personal, vehicle, and current car loan information.
Get a new loan
We'll pay off your previous auto loan and update your title.
Auto refinance FAQs
What is a car refinance loan?A car refinance loan is a new car loan that replaces your current car loan under a different term and rate. Car loan refinancing can help you save money by lowering your annual percentage rate (APR) or reducing your monthly payments.
Why refinance your car loan?An auto refinance loan may be right for you if you're looking for a different loan rate or term on your personal vehicle and if:
- Your vehicle is less than 10 years old
- Your vehicle has less than 140,000 miles
- Your current loan has a balance of $9,000 to $60,000
- You initiated your current loan at least 1 month ago
What documents will I need for auto refinancing?When you refinance your car loan, you may be asked to provide documents that verify your identity, education, and income. We may also ask for:
- A copy of your vehicle registration card
- Proof of insurance
- A co-owner consent form (if applicable)
- Proof of open claim or second lien resolution
All document requests will appear in your Upstart dashboard.
How long will the auto refinance approval process take?Start by filling out our online form. Provide details about yourself, accept your new terms, and verify your information.
We handle the rest such as verifying your registration details, checking insurance coverage, and ensuring your previous loan is successfully paid off. We may ask for documents to help verify your details and rate. This takes 1-2 weeks.
After 1-2 weeks, you are done! Our team will handle the title administration process with no action from you. Typically this process takes between 30-60 days.
Will refinancing my car loan affect my credit score?When you check your rate, we make a soft credit inquiry that won't affect your credit score.
If you go ahead with your application after checking your rate and decide to accept a loan, you will be subject to a hard credit inquiry to verify the accuracy of your application. The hard inquiry may impact your credit score.
Does Upstart allow co-owners on a loan?If you co-own your car, you can include your co-owner on your loan as long as they sign a consent form and provide identification details within 5 days of submitting your application.
Your co-owner will not be responsible for your new loan repayment. Further, we will consider only the information they provide in our credit decision.
Does Upstart allow co-borrowers on a loan?Our platform doesn't currently allow co-borrowers on refinanced car loans. However, if you have a co-borrower on your current car loan, you may apply to refinance the loan in your name only to remove the co-borrower from the loan.
Can I refinance my car loan with a low credit score?At Upstart, you're more than your credit score. Your auto loan rate should reflect that, too. That's where our "smarter rates" come in. Auto refinancing offers from Upstart-powered lenders consider important details beyond your credit score, like your education and employment.⁵ We think that's pretty smart. See if you qualify—checking your rate doesn't impact your credit score.
1. When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
2. This information is estimated based on consumers who qualified for a lower rate through Upstart. As of 5 /1/2022, the average annual savings amount is $287.
3. Your loan amount will be determined based on your credit, income, the outstanding balance of your current auto loan, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. The maximum loan amount in NJ is $50,000.
4. The full range of available rates varies by state. The average 5-year loan offered on Upstart will have an APR of 10.56% and 60 monthly payments of $463 per $20,000 borrowed. For example, the total cost of a $20,000 loan would be $27,795. APR is calculated based on 5-year rates offered in April 2022. There is no downpayment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved.
5. Although educational information is collected as part of Upstart's rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.
6. As of 4/1/22. Including Upstart's Personal Loan Customers.
7. As of 5/1/22, the average monthly savings amount is $91 based on all consumers who were approved for an auto loan through Upstart and accepted their final terms.
Car refinance loans not available in IA, MD, NV, or WV. Car refinance loans in IL and MO are originated by Cross River Bank or Midwest BankCentre. Car refinance loans in CO, KS, and TX are originated by Cross River Bank or Rising Bank, Member FDIC. Car refinance loans in FL, GA, and AL are originated by Cross River Bank or Drummond Bank, Member FDIC. All other car refinance loans are originated by Cross River Bank, Member FDIC.